Wed
Jul 30 2025
09:37 pm
U.S. Treasury Secretary Scott Bessent on Wednesday likened new savings accounts in a bill President Donald Trump this month signed into law to "a backdoor for privatizing Social Security," speaking at an event sponsored by Breitbart.
Bessent calls Trump baby accounts 'backdoor for privatizing Social Security'
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TN Progressive
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TN Politics
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Knox TN Today
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Lost Medicaid Funding
To date, the failure to expand Medicaid/TennCare has cost the State of Tennessee ? in lost federal funding. (Source)
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Trump official accidentally says the truth about Trump budget pr
Trump official accidentally says the truth about Trump budget program
government-sponsored accounts
government-sponsored accounts ...
American babies born through 2028 are eligible to receive $1,000 from the federal government...
Parents, family members and employers can contribute additional funds to the accounts, which must be invested in low-cost stock mutual funds or exchange-traded funds tracking a U.S. stock index...
From a commenter
"It has to be a defined benefit program, i.e. it cannot be privatized into a defined contribution system. A defined contribution system creates winners and losers. Which is all well and good for the winners but then how are the losers supposed to fund their retirement? And if you think that is their problem, what are you going to do when senior citizens cannot afford even rudimentary housing, food and healthcare? Are you really going to let them starve on the streets?"